26, March 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

The pound as always showed the resistance to the European turmoil. By the end of the trading day the pound fell by only 60 points. The head of the Central Bank Governor Mervyn King yesterday appeared at the London School of Economics and his speech was of a general nature.

UK finance minister George Osborne report is waited at 14:00 MSK.

Balance of CBI retail sales for March will be published at 15:00 MSK, forecast 12 to 8 in February.

If U.S. data is positive, the pound may resume growth.

This Thursday the final estimate of U.S. GDP for the 4th quarter is released. The forecast is 0.5% against 0.1%.